**4. TITLE AND SECURITY**

     a. Title; No Liens. Title to the Aircraft and all equipment subject to this Agreement
is retained by Lessor at all times. Lessee may not pledge or encumber the Aircraft in any manner
whatsoever, nor permit any liens, other than liens arising by operation of law or liens solely
attributable to Lessor, to attach thereto, and Lessee shall promptly cause to be removed any such
lien which may be placed on the Aircraft as a result of Lessee’s action or inaction hereunder.
Except as set forth in the immediately subsequent paragraph (b), Lessor shall not permit any lien
or encumbrance of any kind whatsoever to be created or exist upon the Aircraft if such lien or
eucumbrance may or does interfere with Lessee’s quiet use and enjoyment of the Aircraft hereunder.

     b. Security Interests. In the event that this Agreement or the Aircraft are subject to
a security agreement between Lessor and its lender, all rights of Lessee under this Agreement will
be subordinate to the rights of under such a security agreement. To the extent, if any, that this
Agreement constitutes chattel paper under the UCC in connection with such a security agreement, the
original of this Agreement shall be delivered to the lender upon demand as sectary for the
obligation of Lessor.

**5. REGISTRATION**

Lessee undertakes that at all times under this Agreement it shall not do or allow to be done
anything whereby the registration of the Aircraft with the FAA may be forfeited or imperiled.

**6. MAINTENANCE; COSTS OF OPERATION; NO ALTERATIONS**